PropSignals

GBPJPY - Will Bullish trend continued?

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FX:GBPJPY   英鎊 / 日圓
**Monthly Chart**

Last month's candle closed as bullish. GBPJPY is currently moving toward 195 level which is the swing high of June-Aug 2015. The pair is extremely bullish. However, we might see a strong reaction near the mentioned strong monthly swing high. Therefore, the price will have one more push-up before it reverses lower.

**Weekly Chart**

Last week's candle closed bearish suggesting a reversal move to the downside. However, I still see some room for the price to break the high and move towards 195 level. GBPJPY has a similar reaction to OB (Manipulation candle) of Nov 2023. While the short move didn’t sustain and the price kept moving higher.

**Daily Chart**

The pair is still bullish moving higher. However, it reacted (short-term counter-trend) and started moving lower. While I still see it continue moving higher. We might still see a reaction towards this level due to the liquidity pool at around 195 before it moves lower. On lower time frames there were good trade setups for both longs and shorts

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